Lehman, Softbank may bid for Nippon Credit
TOKYO (CBS.MW) -- Lehman Brothers, the U.S. investment bank (LEH: news, msgs), and Softbank, the Japanese internet investment group, are each contemplating bids to acquire Nippon Credit Bank, the nationalized bank put up for sale by the Japanese government. The Financial Times reported that other potential bidders include Paribas SA, Japan's Orix (IX: news, msgs) and two U.S. private equity groups, Kohlberg Kravis & Roberts, and Ripplewood. Ripplewood is currently in the process of buying Long Term Credit Bank, another nationalized bank, for about $1 billion. Lehman's interest in NCB is said to have arisen from its desire to expand securitization operations in Japan, together with niches in restructuring and electronic banking. Lehman declined to comment yesterday.
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